Exercise 1-8 Statement of Cost of Goods Manufactured; Cost of Goods Sold The following data are taken from the general ledger and other records of Phoenix Products Co. on October 31, the en operations in the current fiscal year 22,000 20,000 work in process inventory (October 1) Factory overhead (including $1,000 of indirect materials used and $4,000 Selling and administrative expenses .....................................15,000 Inventories at October 31: Materials 25,000